Showing posts with label IRS. Show all posts
Showing posts with label IRS. Show all posts

May 8, 2015

Shaft Tax

Most people think that all taxes are the shaft, but there really is a shaft tax. For calendar year 2015, the US tax imposed under § 4161(b)(2)(A) on the first sale by the manufacturer, producer, or importer of any shaft of a type used in the manufacture of certain arrows is $0.49 per shaft. Last year it was 48 cents.

Apr 20, 2012

Seven Facts From The Seventies

The World Trade Center twin towers were opened in 1973.
Eleven members of the Israeli Olympic team were taken hostage and killed in Munich by the Palestinian group Black September.
President Nixon resigned in 1974.
Three Mile Island meltdown happened in 1979 and was the worst accident in U.S. nuclear power plant history.
During the oil crisis in 1979, license plates ending in odd numbers could buy gas on odd number days and even number plates on even days.
Lyme disease is named after the town of Lyme, Connecticut, where several cases were identified in 1975.
The IRS regulated alcohol, tobacco, and firearms, until the ATF became its own bureau in 1972.

Jul 1, 2011


It happened on this day in 1862. It started with the the high cost of the the US at war with itself. To help pay for the Civil War, Congress established the Bureau of Internal Revenue. President Abraham Lincoln signed the bill into law, for the  feds to collect a three percent tax on incomes ranging from $600 to $10,000, and five percent on incomes over $10,000. It was passed as a temporary law.

The Bureau became the Internal Revenue Service in 1913 when the 16th amendment was added to the Constitution permitting the Government to collect a tax on income. How ironic that a few days before we celebrate our independence, they took away our independence from taxes.

Mar 4, 2010

Tax Day Coming

More Americans than ever will be subject to scrutiny from the Internal Revenue Service this year as the government pumps billions of dollars into tax collection.

More than 1.4 million Americans were audited last year. Even more audits are expected as the Obama administration plans to spend $8.2 billion in tax enforcement initiatives in 2011, a nearly 10% increase over last year. That is one stimulus that may pay off for the government. . .